Simpson Manufacturing Company Inc Stock Forecast
Red day on Tuesday for Simpson Manufacturing Company Inc
(Updated on May 07, 2024)
The Simpson Manufacturing Company Inc stock price fell by -1.74% on the last day (Tuesday, 7th May 2024) from $183.23 to $180.05. During the last trading day the stock fluctuated 1.51% from a day low at $179.98 to a day high of $182.70. The price has risen in 8 of the last 10 days and is up by 6.39% over the past 2 weeks. Volume has increased on the last day by 137 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 360 thousand shares were bought and sold for approximately $64.88 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.88% during the next 3 months and, with a 90% probability hold a price between $145.30 and $173.23 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SSD Signals & Forecast
There are mixed signals in the stock today. The Simpson Manufacturing Company Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $187.47. On a fall, the stock will find some support from the short-term average at $178.28. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -1.74%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Simpson Manufacturing Company Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $170.82 and $169.62. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Simpson Manufacturing Company Inc finds support just below today's level at $170.82. If this is broken, then the next support from accumulated volume will be at $169.62 and $169.23.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.72 between high and low, or 1.51%. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SSD) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Simpson Manufacturing Company Inc to open at $180.91, and during the day (based on 14 day Average True Range), to move between $174.53 and $185.57, which gives a possible trading interval of +/-$5.52 (+/-3.07%) up or down from last closing price. If Simpson Manufacturing Company Inc takes out the full calculated possible swing range there will be an estimated 6.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $185.12 (2.82%) than the support at $170.82 (5.13%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Simpson Manufacturing Company Inc stock A Buy?
Simpson Manufacturing Company Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.103 Sell Candidate Unchanged
Predicted Opening Price for Simpson Manufacturing Company Inc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $180.91 ( 0.478%) | $180.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 183.63 | 1.99 % | |
| R2 | 182.59 | 1.41 % | ||
| R1 | 181.95 | 1.05 % | ||
| Current price: | 180.05 | |||
| Support | S1 | 179.87 | -0.0994 % | |
| S2 | 179.23 | -0.456 % | ||
| S3 | 178.19 | -1.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 207.25 | 15.11 % | |
| R2 | 197.24 | 9.55 % | ||
| R1 | 185.12 | 2.82 % | ||
| Current price | 180.05 | |||
| Support | S1 | 170.82 | -5.13% | |
| S2 | 169.62 | -5.79% | ||
| S3 | 169.23 | -6.01% |
SSD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 04, 2024 | Jul 04, 2024 | Jul 25, 2024 | $0.280 | 0.155% |
| 2 | May 01, 2024 | Jul 03, 2024 | Jul 25, 2024 | $0.280 | 0.155% |
| 3 | Jan 23, 2024 | Apr 03, 2024 | Apr 25, 2024 | $0.270 | 0.158% |
| 4 | Oct 23, 2023 | Jan 03, 2024 | Jan 25, 2024 | $0.270 | 0.148% |
| 5 | Jul 31, 2023 | Oct 04, 2023 | Oct 26, 2023 | $0.270 | 0.210% |
FAQ
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